Presidential Candidates Fail to Address Social Security Crisis

While they’re as varied as the results of the various polls, the presidential candidates are alike on one matter: aversion to discuss the impending retirement and Social Security, Medicare and Medicaid crisis, The Wall Street Journal reports.

But whoever becomes the next president of the United States will not be able to avoid the critical issue that the Baby Boomers will face, as they will begin to retire during their first term.

Regardless of whether they increase spending, the budget will be strained because of the Iraq war, interest on the national debt and expected elimination of the alternative minimum tax from the middle class.

“Under any plausible scenario, the federal budget is on an unsustainable path – that is, federal debt will grow much faster than the economy over the long run,” Congressional Budget Office Director Petre Orszag recently testified on Capitol Hill.

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